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Gladstone Commercial Highlights 2024 Business Developments

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In a summary of 2024 business achievements, Gladstone Commercial Corporation marked a year of strategic investments and asset dispositions. The company closed a $75 million private placement of senior unsecured notes, paving the way for an expanded industrial portfolio.

Acquisitions reached $26.8 million, encompassing seven properties in key industrial markets like southern Pennsylvania and St. Louis. Portfolio concentration for industrial assets increased to 63% of annualized rent by year-end 2024.

Gladstone advanced its leasing activities by renewing 2,940,209 square feet, contributing a $3.8 million rise in GAAP rent. The company sold seven properties and improved occupancy from 96.8% to 98.7%.

As of December 31, 2024, Gladstone maintained $93 million in liquidity. This underscores the firm's continued financial resilience in the net lease real estate sector.

R. E.

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